Down to 5.5 and Lower or Back to ATH at 19.4
Scenario A:
- Confirmed Head/Shoulders top, successful re-test and then down to 5.5%
- Likely headed much lower after losing the lower trendline of a long-term rising wedge, which has also been successfully re-tested and has continued down
- Possible because of two confirmed patterns and re-tests.
Scenario B:
- Unconfirmed Falling Wedge, which if it breaks up from will target ATH at 19.4% and bring us back into the rising wedge on pending a 2nd re-test.
- Double-top and then true exit of the rising wedge before heading much lower
- Possible because this behavior would be similar to the behavior following its previous set of peaks in 2017-18.
- Confirmed Head/Shoulders top, successful re-test and then down to 5.5%
- Likely headed much lower after losing the lower trendline of a long-term rising wedge, which has also been successfully re-tested and has continued down
- Possible because of two confirmed patterns and re-tests.
Scenario B:
- Unconfirmed Falling Wedge, which if it breaks up from will target ATH at 19.4% and bring us back into the rising wedge on pending a 2nd re-test.
- Double-top and then true exit of the rising wedge before heading much lower
- Possible because this behavior would be similar to the behavior following its previous set of peaks in 2017-18.
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